Monday, April 25, 2011

A roof over our head But no food on the table

Selective Enbloc Redevelopment Scheme (SERS) - this is precisely what ordinary citizens like myself is afraid off. HDB policy is a ticking time bomb waiting to kill us with debt in during our retirement years.

It is reported that HDB is buying back some 34 years old blocks for flats for redevelopment. Just imagine the financial stress that after paying off your housing loan, HDB wants you flat back and force you to buy another one at a higher price ! It will be a downgrading of flat for sure in order not to shoulder heavy housing debt again.

So if the flat is older eg 60 years, its value is lower, then even if we downgrade, we will likely be burden with another heavy HDB loan at this current rate of sky high ridiculous HDB price.

The current HDB policies are NOT popular with us ordinary citizens, regardless of what Mah BT thinks. Asset enhancement means nothing to us who just want a roof over our head and not be inconvenience by this SERS. There is sense of belonging and attachment to our home, neighbours and surrounding - that cannot be compensated by money!

HDB senseless policies will leave old folks with a roof but no food on the table. Since more than 80% of the population is housed in HDB, the consequent is very severe if such senseless policy is to continue.

Mah seems to think there is nothing wrong with the current policy. This is indeed worrying as there is none so blind as those who refuse to see.